Our friend was being sympathetic. She gave us a look of pity, tightly
controlling her face muscles; as if it might slide into contempt at any
moment. After spending so much time with rocks, dirt, cement…cattle,
grapes…doing such real things, we admitted that writing about economics
and finance seemed a little light. As if there is nothing real there.

“I mean, you were building things…changing the landscape…and
improving people’s lives. Putting water in their houses…digging
reservoirs…setting up solar power systems.”

Yes, it was true. There is the world of real things…real work and
real results. And there is a whole phony world of
economists…commentators…speculators…blowhards and show-offs…hustlers and
conmen…fools and knaves. Wall Street…and its victims.

But while the real world is more satisfying…the phony world makes us laugh.

It shouldn’t come as a surprise that the insiders are taking
advantage of the “crisis” they caused. But the scale of the rip-off…and
the audacity and subtlety of it…are breathtaking.

Yes, it is fun to watch a good flimflam artist at work. And those managing the US financial system are among the best.